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A Luxury Apartment Boom in the Burbs

It was a banner year for newly constructed suburban rentals—with high-end amenities like fiber internet and a pet-washing station.

Renters in the suburbs have a lot more options these days: Nearly 3,000 units went up in 2016. That’s twice as many as the year before and the highest number since 1997, says Ron DeVries, vice president of Appraisal Research Counselors. What’s fueling the boom? A decade ago, surrounding towns favored building condos. But the postbust trend of renting over buying changed that, especially in burbs with a dearth of apartments. “It got to the point where rents were high enough that it made economic sense to build new apartments,” DeVries says. Developers are including plush amenities to match the lofty rents, eager to slap the luxury label on the new digs. Here, a few of the fanciest.

Northbrook

Northbrook

NorthShore 770
770 Skokie Blvd.
Photos: Courtesy of the rental properties

Rent:$1,540 to $4,060 (347 units)
Good for:Boomers who value exclusivity (it’s the only building on the North Shore with a doorman)
Cool amenities:Golf simulator, movie theater, pet-washing station

 

Elmhurst

Elmhurst

Elmhurst 255
255 N. Addison Ave.

Rent:$1,430 to $4,030 (192 units)
Good for:Millennials who seek perks and a walkable downtown
Cool amenities:Coworking spaces, round-the-clock coffee service, bocce court
Read more: Can This Elmhurst Apartment Get Renters to Pay $4,000 a Month?

 

Orland Park

Orland Park

The Residences of Orland Park Crossing
9510 140th St.

Rent:$1,370 to $2,950 (231 units)
Good for:Families who need space (units go up to three-bedroom row houses)
Cool amenities:Walking trails, outdoor Ping-Pong, clubhouse

 

Oak Park

Oak Park

Vantage Oak Park
150 Forest Ave.

Rent:$1,380 to $3,660 (270 units)
Good for:Commuters who want to walk to the Green Line and Metra
Cool amenities:Rooftop terrace with fire pit and grills, smartphone video intercom system, 1 Gbps fiber internet

Check out the gallery below for more photos of these properties.

Photo gallery

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